Varun Beverages Financials
NSE: VBL | BSE: 540180
₹407.60
₹0.45
(0.11%)
As on 04-Sep-2026 15:59IST
Market cap
₹1,39,358 Cr
Revenue (TTM)
₹24,755 Cr
P/E Ratio
41.2
P/B Ratio
6.4
Div. Yield
0.4 %
Income Statement (₹ Cr) |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Operating Revenue
|
24,754.64
|
21,685.38
|
20,007.65
|
16,042.58
|
13,173.14
|
8,823.23
|
|
|
|
|
|
|
Total Income
|
25,149.69
|
22,037.73
|
20,128.92
|
16,121.94
|
13,211.99
|
8,891.49
|
|
|
|
|
|
|
Total Expenditure
|
19,096.05
|
16,609.61
|
15,264.11
|
12,409.60
|
10,367.07
|
7,146.32
|
|
|
|
|
|
|
EBITDA
|
5,658.60
|
5,075.77
|
4,743.54
|
3,632.98
|
2,806.07
|
1,676.91
|
|
|
|
|
|
|
Depreciation
|
1,403.63
|
1,216.46
|
947.39
|
680.91
|
617.19
|
531.26
|
|
|
|
|
|
|
EBIT
|
4,254.97
|
3,859.31
|
3,796.16
|
2,952.08
|
2,188.88
|
1,145.65
|
|
|
|
|
|
|
Interest
|
197.36
|
195.98
|
482.86
|
291.60
|
204.09
|
207.31
|
|
|
|
|
|
|
Other Income
|
395.04
|
352.35
|
121.27
|
79.36
|
38.85
|
68.26
|
|
|
|
|
|
|
Exceptional Items
|
--
|
--
|
--
|
--
|
--
|
--
|
|
|
|
|
|
|
Profit before Tax
|
4,452.65
|
4,009.65
|
3,433.09
|
2,739.36
|
2,023.64
|
1,006.61
|
|
|
|
|
|
|
Provision for Tax
|
1,030.90
|
947.61
|
798.80
|
637.55
|
473.52
|
260.56
|
|
|
|
|
|
|
Profit after Tax
|
3,421.76
|
3,062.04
|
2,634.29
|
2,101.81
|
1,550.11
|
746.05
|
|
|
|
|
|
|
Minority Interest
|
-23.14
|
-25.55
|
-39.65
|
-45.89
|
-52.68
|
-52.00
|
|
|
|
|
|
|
Share of Associate
|
-12.49
|
--
|
--
|
--
|
--
|
--
|
|
|
|
|
|
|
Consolidated Profit
|
3,386.13
|
3,036.49
|
2,594.63
|
2,055.92
|
1,497.43
|
694.05
|
|
|
|
|
|
Liabilities (₹ Cr) |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Shareholder's Funds
|
21,770.65
|
19,578.70
|
16,609.83
|
6,936.50
|
5,102.38
|
4,079.91
|
|
|
|
|
|
|
Minority Interest
|
-23.14
|
162.25
|
129.81
|
148.16
|
113.11
|
116.79
|
|
|
|
|
|
|
Non-Current Liabilities
|
3,078.20
|
1,725.82
|
1,860.22
|
3,949.32
|
2,434.00
|
2,362.54
|
|
|
|
|
|
|
Current Liabilities
|
5,179.99
|
4,073.95
|
4,524.43
|
4,153.21
|
3,968.75
|
3,020.25
|
|
|
|
|
|
|
Total Liabilities
|
30,210.51
|
25,540.72
|
23,124.28
|
15,187.18
|
11,618.24
|
9,579.48
|
|
|
|
|
|
Assets (₹ Cr) |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Non-Current Assets
|
17,798.27
|
17,644.67
|
15,260.31
|
10,951.55
|
8,214.21
|
7,033.37
|
|
|
|
|
|
|
Current Assets
|
10,527.42
|
7,889.40
|
7,863.97
|
4,235.63
|
3,404.03
|
2,546.11
|
|
|
|
|
|
|
Total Assets
|
30,210.51
|
25,540.72
|
23,124.28
|
15,187.18
|
11,618.24
|
9,579.48
|
|
|
|
|
|
|
Total Debt*
|
--
|
2,024.12
|
2,364.27
|
5,194.39
|
3,694.81
|
3,341.90
|
|
|
|
|
|
|
Net Current Assets
|
5,347.42
|
3,815.46
|
3,339.55
|
82.42
|
-564.72
|
-474.13
|
|
|
|
|
|
|
Contingent Liabilities
|
--
|
484.79
|
302.44
|
225.40
|
230.05
|
282.92
|
|
|
|
|
|
Cashflow (₹ Cr) |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Cash From Operating Activities
|
--
|
3,509.31
|
3,381.10
|
2,390.78
|
1,790.03
|
1,231.42
|
|
|
|
|
|
|
Cash Flow from Investing Activities
|
--
|
-2,734.94
|
-4,316.78
|
-3,289.87
|
-1,704.60
|
-1,010.64
|
|
|
|
|
|
|
Cash from Financing Activities
|
--
|
-1,266.47
|
2,953.54
|
984.90
|
-17.94
|
-177.68
|
|
|
|
|
|
|
Net Cash Inflow / Outflow
|
--
|
-492.09
|
2,017.85
|
85.81
|
67.49
|
43.10
|
|
|
|
|
|
Financials Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Adjusted EPS (₹)
|
10.01
|
8.98
|
7.67
|
6.33
|
4.61
|
2.14
|
|
|
|
|
|
|
Cash EPS (₹)
|
10.01
|
12.65
|
10.59
|
8.57
|
6.67
|
3.93
|
|
|
|
|
|
|
Adjusted Book Value (₹)
|
64.36
|
57.84
|
49.06
|
21.33
|
15.70
|
12.56
|
|
|
|
|
|
|
Dividend per Share (₹)
|
0.36
|
1.50
|
1.00
|
1.00
|
0.70
|
0.33
|
|
|
|
|
|
|
Cash Flow per Share (₹)
|
--
|
10.38
|
10.00
|
18.40
|
27.56
|
28.44
|
|
|
|
|
|
|
Free Cash Flow per Share (₹)
|
--
|
2.86
|
-2.56
|
-8.89
|
-3.37
|
4.01
|
|
|
|
|
|
Profitability Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
ROCE (%)
|
--
|
20.73
|
25.18
|
28.97
|
27.47
|
17.14
|
|
|
|
|
|
|
ROE (%)
|
16.38
|
16.94
|
22.40
|
34.95
|
33.77
|
19.62
|
|
|
|
|
|
|
ROA (%)
|
12.46
|
12.58
|
13.75
|
15.68
|
14.63
|
8.28
|
|
|
|
|
|
|
EBIT Margin (%)
|
17.19
|
17.80
|
18.97
|
18.40
|
16.62
|
12.98
|
|
|
|
|
|
|
Net Margin (%)
|
13.61
|
13.89
|
13.09
|
13.04
|
11.73
|
8.39
|
|
|
|
|
|
|
Cash Profit Margin (%)
|
--
|
18.51
|
16.87
|
16.71
|
15.74
|
13.72
|
|
|
|
|
|
Growth Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Revenue Growth (%)
|
14.64
|
8.39
|
24.72
|
21.78
|
49.30
|
36.79
|
|
|
|
|
|
|
EBIT Growth (%)
|
9.16
|
1.66
|
28.59
|
34.87
|
91.06
|
67.05
|
|
|
|
|
|
|
Net Profit Growth (%)
|
18.88
|
16.24
|
25.33
|
35.59
|
107.78
|
108.82
|
|
|
|
|
|
|
EPS Growth (%)
|
17.82
|
17.01
|
21.22
|
37.29
|
115.76
|
110.96
|
|
|
|
|
|
|
Book Value Growth (%)
|
--
|
17.89
|
139.49
|
35.85
|
24.99
|
15.77
|
|
|
|
|
|
Valuation Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Price / Earnings
|
41.16
|
54.56
|
83.21
|
31.26
|
11.47
|
7.38
|
|
|
|
|
|
|
Price / Book Value
|
6.40
|
8.47
|
13.01
|
23.19
|
16.85
|
9.41
|
|
|
|
|
|
|
Dividend Yield (%)
|
0.36
|
0.31
|
0.16
|
0.20
|
0.26
|
0.28
|
|
|
|
|
|
|
EV/EBITDA
|
23.08
|
30.52
|
44.36
|
44.55
|
31.39
|
23.72
|
|
|
|
|
|
|
Close Price (₹)
|
507.55
|
489.85
|
638.50
|
494.76
|
264.51
|
118.44
|
|
|
|
|
|
|
High Price (₹)
|
555.80
|
663.70
|
682.84
|
552.18
|
286.49
|
136.00
|
|
|
|
|
|
|
Low Price (₹)
|
381.00
|
419.40
|
478.48
|
220.00
|
111.41
|
75.92
|
|
|
|
|
|
|
Market Cap (₹ Cr)
|
1,39,357.55
|
1,65,667.62
|
2,15,892.55
|
1,60,653.61
|
85,903.38
|
38,390.76
|
|
|
|
|
|
Solvency Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Debt to Equity
|
0.08
|
0.10
|
0.14
|
0.75
|
0.72
|
0.82
|
|
|
|
|
|
|
Short term debt to equity ratio
|
--
|
0.06
|
0.08
|
0.14
|
0.12
|
0.15
|
|
|
|
|
|
|
Current Ratio
|
2.03
|
1.94
|
1.74
|
1.02
|
0.86
|
0.84
|
|
|
|
|
|
|
Quick Ratio
|
1.26
|
1.21
|
1.12
|
0.50
|
0.36
|
0.36
|
|
|
|
|
|
|
Interest Coverage
|
23.56
|
21.46
|
8.11
|
10.39
|
10.92
|
5.86
|
|
|
|
|
|
Operating Efficiency Ratios |
TTM | Dec-25 | Dec-24 | Dec-23 | Dec-22 | Dec-21 | Dec-20 | Dec-19 | Dec-18 | Dec-17 | Dec-16 |
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Debtors to sales (%)
|
6.66
|
5.76
|
4.23
|
2.24
|
2.27
|
2.51
|
|
|
|
|
|
|
Asset Turnover
|
0.90
|
0.95
|
1.11
|
1.24
|
1.30
|
1.03
|
|
|
|
|
|
|
Receivable days
|
--
|
16.54
|
10.36
|
7.22
|
6.90
|
9.08
|
|
|
|
|
|
|
Inventory Days
|
--
|
45.34
|
42.47
|
45.42
|
45.61
|
46.59
|
|
|
|
|
|
|
Payable days
|
--
|
55.63
|
47.52
|
39.00
|
44.77
|
55.33
|
|
|
|
|
|
|
Cash Conversion Cycle
|
--
|
6.24
|
5.31
|
13.63
|
7.74
|
0.34
|
|
|
|
|
|
*TTM (Trailing Twelve Months) data based on income statement of last 4 quarters and interim half yearly balance sheet.
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